Blockchain will be "OUR" Future - easy explained !!!

Hey Crypto fans,

I found the following article in manager magazin - Why is the blockchain the future, explained in "understandable".

Part 1: Internet of Jumps - Blockchain changes everything
Part 2: Killer application Bitcoin proves that the blockchain principle works
Part 3: Shortly before the turning point
Part 4: Green Power Community
Part 5: Seconds instead of days
Part 6: Enormous savings potential

Whether tourism, energy or industry 4.0 - Blockchain will not only radically change the financial industry.

Sometimes the simplest questions are the hardest to answer. Who in the group has booked which hotels in Mallorca? Where else are there beds available on the Costa Brava? Nobody on the Tui stock-Chart can give any information about this - not even CEO Fritz Joussen (54).

The contracts department concludes individual contracts with countless hoteliers for each of the 14 national companies. The agreements are often still entered manually into the respective computer systems of the subsidiaries. Once the Spanish contingent of Tui Germany has been exhausted, for example, nobody can see that the British part of the tourism giant still has free room capacities. The "extremely non-transparent system" so annoyed former software developer Joussen that he instructed his IT staff to do something.

The experts proposed a uniform platform for the management of contracts. This automatically creates full access to all hotel transactions - clearer, more efficient and more secure than conventional software. Tui wants to use the blockchain technology, which is known to a wider audience, especially in combination with the controversial crypto currency Bitcoin.

Digital Businesses in the Blockchain System: The Thousand Eyes Principle
Joussen pressed for the project to be implemented - despite all the risks of this new technology. He enthuses enthusiastically about the concept - and is "100 percent sure" that Blockchain is "the future that the Internet will one day replace".

Normally only nerds who want to reinvent the world with the idea of distributed digital registers express such euphoria. They are fascinated by the new principle, which does not simply pass on information, but also enables the transfer of values.

In the blockchain system, each data record - including a bank transfer or a contract - is mathematically confirmed by thousands of computers and is inseparably linked to previous transactions between the business partners involved. The interlinked blocks are not stored in a large central data center that can easily be attacked by hackers. Instead, the database is replicated to the thousands of servers involved in the blockchain, which practically rules out manipulation by third parties.

Even if the concept may seem complex at first - experts expect a technological boost like that from the Internet at the beginning of the 90s. And unlike in the early days of the web, German business leaders no longer dismiss such ideas as spinning. Traumatised by the destruction of their business models, they want to avoid being overrun by the next trend.

Part 2: Killer application Bitcoin proves that the blockchain principle works

The blockchain principle actually has enormous potential for change: With the help of digital cash books, values such as money, shares, patents or property rights can be clearly assigned to an owner, transferred absolutely forgery-proof and displayed transparently for all participants. Intermediaries such as banks or notaries, who were previously needed as confidence-building institutions for business transactions, would be superfluous.

Digital Businesses in the Blockchain System: The Thousand Eyes Principle
Bitcoin, their killer application, has proven for years that the blockchain technique actually works. A unit of the digital currency is worth significantly more than a troy ounce of gold - even if the Bundesbank warns against speculation with the crypto currency.

The fascination for the basis of digital money is by no means limited to the financial world. Because Blockchain is much more than just for processing payments. The product promise of highly secure digital business and contracts between millions of participants electrifies companies from a wide variety of industries - from the energy industry to manufacturing and trade. The productivity leaps associated with this would be gigantic.

IT companies such as IBM Stock Exchange Chart show, Microsoft Stock Exchange Chart show or SAP Stock Exchange Chart show promise to use Blockchain to automate transactions and accelerate the Internet of Things (IoT). Service providers such as Accenture, Deloitte, Infosys Börsen-Chart zeigen or KPMG help to design appropriate business models. Venture financiers have already invested more than 1.5 billion dollars in around 1000 start-ups programming blockchain solutions Everledger, for example, registers diamonds, Shocard offers a digital ID card, Blockfreight develops logistics systems. 21Inc manufactures the necessary specialty computers and has collected more than $120 million.

Good old Germany is also keen to experiment. According to Philipp Sandner, who is building a Blockchain Center for the Frankfurt School of Finance, three out of four Dax companies are working on the technology. Daimler stock market chart, Airbus stock market chart or SAP are involved in the hyperledger project, which aims to establish standards. Bosch cooperates with Cisco stock market chart show and Foxconn in the Iot Blockchain consortium. Blockchain is even known in the middle class.

Stephan Zimprich says that this year will be decisive in establishing cross-cutting technology as the basis for new business models. The lawyer heads the Blockchain competence group at the Internet association Eco and expects that the necessary protocols, interfaces and standards as well as legal foundations will soon be created. In the next one to two years real commercial applications could then develop - almost ten years after the basic idea for the crypto currency Bitcoin was first published under the pseudonym Satoshi Nakamoto.

Part 3: Just before the turning point.

Under the impact of the financial crisis, the blockchain inventor wanted to eliminate banks as intermediaries because they had abused the trust of their customers. Instead of dubious instances, algorithms guarantee the validity of digitally recorded transactions.

In the meantime, brilliant programmers like Vitalik Buterin have greatly expanded the principle of digital trust. Its Ethereum platform, for example, enables so-called Smart Contracts. These contracts automatically execute themselves as soon as a programmed event occurs. Payment by pulse. There are still some hurdles to overcome for such a thoroughly digitized world. In the Bitcoin system it takes about ten minutes until a block is encrypted and confirmed. The many computers involved consume an extreme amount of energy.

Computop boss Ralf Gladis says he considers Blockchain "even after a benevolent examination" unsuitable for mass business - well aware that the technology threatens payment service providers like him, PayPal or Wirecard Börsen-Chart. Others in the financial sector are pleased. McKinsey predicts savings of $80-110 billion for the industry as a whole once the new systems are fully operational. Pioneers like Deutsche Börse are already working on the conversion of their back-office processes.

To make Blockchain cheap, fast and scalable, thousands of enthusiastic programmers worldwide are working on the technology. Bruce Pon, for example, is working with his Berlin-based company BigchainDB on a solution that will process one million writes per second. Also in the capital, the IOTA Foundation is developing a multidimensional construct that should be "infinitely scalable", as its co-founder Dominik Schiener believes.

Oliver Bussmann observes the development from the tranquil little town of Zug in Switzerland. The former UBS Grande supports start-ups there with the Crypto Valley Association. "We are on the verge of a turning point," he says. By 2020 at the latest, Blockchain will disrupt many industries. Technology has the potential to change everything - from supply chains in production and trade to machine networking, power supply, electromobility, the sharing economy, even state administration. Estonia has long offered its citizens a digital identity, and the cadastral register in Georgia is also based on Blockchain technology.

Part 4: Green Power Community

The major power generators are also preparing for the new era. In the Innovation Hub of RWE subsidiary Innogy, nerds are testing how green electricity generated locally can be efficiently fed in and distributed on the basis of the new technology. In autumn 2015, 15 Innogy customers in Mülheim an der Ruhr were merged into a kind of energy cooperative. The participants exchange electricity from the solar cells on their roofs and the thermal power plants in their cellars. The accounting system was digitally simulated via blockchain.

Closer to real life, the startup Strombewegung in cooperation with Eon Börsen-Chart shows the exchange and settlement of green electricity. The young company has activated its first self-catering group in the Calenberg region just outside Hanover. Similar to the ten houses on President Street in New York's Brooklyn district, which have organized themselves as microgrids.

A radical approach for RWE's stock market chart shows Eon and Co. Because who needs their services when producers and consumers trade their green electricity directly with each other?

But development cannot be halted, the established only have time to develop new services - in the field of electric mobility, for example. Innogy's Innovation Hub has just launched a network of private electricity filling stations. In the Share&Charge system, owners of a power socket outlet can make their connections available to other electric drivers. Up to 1000 filling stations will soon be bookable via the App Share&Charge in the pilot project. Billing is done automatically via Blockchain, no longer inconveniently via a service provider such as PayPal.

ZF Friedrichshafen wants to give the electric cars their own wallet, naturally on a blockchain basis, so that they can charge themselves autonomously in the future and pay for the battery charge themselves. The supplier's Car eWallet can also be used to charge fractional cents, for example when a vehicle pulls a mini current syringe out of the induction loop in front of a traffic light or a parking space is reserved. Via smart contract, the car can even earn money by renting itself during its owner's working hours or opening its trunk for delivery.

The engineers from Lake Constance received thunderous applause for their software prototype at the US technology fair CES in January. A pilot project with real rolling hardware is to start in the second half of 2017.

Part 5: Seconds instead of days

Blockchain fans already celebrate such pioneering applications as an entry into the autonomous economy of things. Alessandro Curioni, research director of the IBM laboratory in Zurich, predicts that their digital identity will accelerate innovations enormously.

Digital Businesses in the Blockchain System: The Thousand Eyes Principle
The complete traceability of mozzarella would be such an innovation. The cold chain must not be interrupted when transporting the cheese. If it gets too warm in the truck, the temperature sensor reports this to the digital label. The blockchain rule "too warm, get rid of it" then automatically sorts out the delicacy as inedible.

What sounds like a joke of the pleasurable Italian is a serious business for IBM. With the US retail giant Walmart, the IT group is building a system in China that improves food safety.

In Dubai, the authorities want to handle all trade transactions by 2020 in order to save themselves the logistics and customs bureaucracy. In India, the Mahindra industrial conglomerate is planning to blockchain its supply chain management, as Japan's Toyota stock market chart shows. Pharmaceutical companies want to use super technology to make their clinical tests error-proof and to transmit patient data and gene analyses to health authorities in non-corruptible form.

Up to 70 percent of all global markets will work directly or indirectly with Blockchain by 2025," expects Ingo Fiedler, who is researching the topic at the University of Hamburg. A prediction that has the highest relevance for Jürgen Müller. The Chief Innovation Officer of SAP sees a gigantic growth opportunity for the Walldorf-based software group in the organization of transactions between companies. Business across company boundaries still involves an unbelievable amount of effort. "We want to optimize the processes associated with thick piles of paper. "

SAP has already developed a project to simplify international payment transactions on a block chain basis. This means that a process that used to take days takes 20 seconds. More than ten further ideas are in the pipeline - for fact checking in CVs, for example, or for real estate management, in which all contracts with service providers and tradesmen cover the entire value chain.

Part 6: Enormous savings potential

The investment bank Goldman Sachs has used an example to illustrate the extent to which such solutions are revolutionizing traditional business models. In the USA, property titles for buildings are guaranteed by a special insurance company. By using fully transparent blockchain registers, errors can be avoided when transferring such titles. This alone saves up to four billion dollars a year. Banks could save up to $5 billion in costs if they comply with the compliance rules in the Money Laundering Act through blockchain-based transaction archives.

Where such billion-dollar potentials lie dormant, founders are usually not far away. Their targets: the great internet pioneers. The blockchain start-ups could well become dangerous for the established aggregators, believes Deloitte expert Mirko Gramatke: "Disrupt the Disruptor. "

The Israeli start-up Lazooz, for example, has set itself the task of bringing drivers and passengers together through self-organization. If this is successful, no one needs the hyped mediation service any more. Based in Mittweida, Saxony, Slock.it is working on a software platform for a "universal sharing network". In future, door locks will automatically recognize whether a tenant has paid for the use of a private home or not. If he doesn't, he won't get in. Thick commissions, such as Airbnb charges today for the messing up of other people's beds, would then no longer apply.

Easy handling, enormous savings potential, transparent processes - the blockchain technology could not only dangerously shake today's lighthouses. It also gives the old economy, which has often already been written off, the opportunity to make up for its digital deficits.

Tui boss Joussen can't be happy enough about his ultra-modern bed database running on Blockchain. It's due to start in the summer.

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